Coming in Hot

Trading Discussion Trade Journals
1

Hi Everyone,

I have read a lot of threads here and decided to keep a log of my trades here to learn from and maybe it might help some others on the way.

My intention is to generate an income from trading FX and after crunching the numbers and doing some live trading and going over those trades have decided to put what I have learnt into action.

One thing I have noticed is that all of the successful traders that I have talked too have a coach, so I decided to have one as well (I have seen my coach trade and it blows my mind how he can read the market, my goal is to that good one day).

TRADING PLAN – Goingwiththetrend

My Purpose:

• To perfect my skills as a Trader and become the best I can be
• To generate $2000 per week asap

System:

• To be announced (have one but no permission to share it as yet)

Commitment:

• To generate a launching platform of 100 pips per week
• Pairs I’ll trade, AUD/USD or GBP/USD or EUR/USD
• To trade - executing my system to the letter.
• To learn from my weaknesses and develop them into strengths

Structures to Maintain Focus:

• Meditate to remain calm and create a vision of success
• Deal with any out of integrity issues as soon as I become aware of them
• Take Responsibility for my world as I create EVERYTHING that happens in my world and that it happens for a reason. (What have I to learn or need to share from this situation)
• Record all my trades on excel and web postings

Earnings:

I get paid according to how well I execute my trading system

Compound:

• Compound according to my compounding sheet

Next week is xmas so I dont expect a lot of trading to occur but will look at the market and see if any opportunities arise but will be aiming for a after new years start.

cheers

doingwhatittakes

2

Darn, you would have impressed me so much if you had made that 2k during the Xmas week…:slight_smile:

Just teasin, good luck with the trading. Am curious about your trades.

3

Hi Toekan,
I would have been Impressed as well :slight_smile:

Did average 40 pips a day last week on mini’s but doing that with standard size contracts is a different kettle of fish mentally.

Looking forward to next week and the next month to see where I’m at and what I need to learn and work on to achieve my goals.

I enjoy a good stir so no problems there at all mate.

Enjoying a good couple of wines at the moment so talk soon.

Cheers

Doingwhatittakes

4

Ok the intention is to spend time on the market tomorrow and Friday on the London and NY sessions with the aim to make 40 pips over the next two day’s, 20 pips per day.

First 20 pips will be a standard contract and the second 20 pips will be 2 standard contracts with the aim of generating $600 usd.

I will be taking note of what comes up for me and sharing about it after the sessions.

Cheers

Doingwhatittakes

5

Well done, Doingwhatittakes

You are taking the correct approach, will be following your journal with interest.

Nitetrader

6

Thanks mate I’m determined to make my living out of this ASAP and playing with mini’s just doesn’t cut it.

My long term goals are to buy a house and set up my family but right now I just need to focus on obtaining the 20 pips that want to join me.

Again thanks for the encouragement

Cheers

Doingwhatittakes

7

Interesting session last night,

Ended up .6 pips down but found that I was focusing on the money instead of the system.

If I have had followed the system and executed the trading plan to the letter I would’ve reached my target easily.

Things I have learned even though I had a bad night with trading the result wasn’t too bad.
Secondly follow the plan - you only get paid according to how well you follow and execute your plan.
Thirdly my belief is still strong and it is supported by the fact that when I started to follow the plan I got back to nearly break even.

Things for tonight’s session-have the plan I front of me instead of in my head and focus purely on executing the plan, the money will take care of itself.

Cheers
Doingwhatittakes

8

What made it a bad night of trading?

9

Good to see a few more aggressive traders on here. Good luck.

10

The fact that I didn’t follow the rules and reach my targets, but mostly disappointed with my performance as I know I am better than the result.

Cheers

Doingwhatittakes

11

Thanks Dan

12

Ok tonight’s results much better.

Concentrated on distinguishing the trend and executing the trading plan to the letter.

Account back in the black after 75 points profit, although the first trade that went 40 pips was only on a mini to get myself warmed up the other 35 points was on a standard.

Even though I have not reached my target of $2,000 a week I’m feeling quite confident that it is not too far in the future and maybe even next week.

Thanks to everyone for the encouragement and also to my coach who got me to focus on the trend and only take those trades that line up with the trend.

Now going to analyse those 4 trades and do my learning curve.

At my coach’s request I will be posting my trades times and contract info next week so he can hold me to account when he checks my journal here.

P.s all my trades tonight was on the eur/usd

Cheers

Doingwhatittakes

13

You are not in control of the result. It has nothing to do with the content of your character.

You didn’t follow your rules. You recognize the importance of that. That is a win in my book.

You have to fail in order to succeed. Fail often.

14

thanks Mastergunner99 will take it on board.

You sound like my coach

cheers

doingwhatittakes

15

You sound like you’re indirectly trying to bait someone into asking about your coach.

16

No just giving a compliment

17

Well after doing my review of the last week in prep for this coming week I realized a few things.

I had approaching my trading with the end result in my focus and not allowing myself to enjoy or be with the journey in getting to my desired goal, which caused me to rush or be impatient with my trading. I was reacting to the market instead of responding to the market.

I was approaching trading/life from a position of security, unwilling to set my goals and making plans to achieve them and going after them with every ounce of desire that’s in my body. If I am to be successful having 2 out 3 wont cut it it needs to be 3 out of 3.

Also I had noticed that my trading had been controlled by Fear, fear of Failure, rejection, going broke, humiliation in the face of friends and the biggy for me the fear of success. These fears have been holding me back talking myself out of a number of trades this last week. Solution for me is to focus on system and execute the trading plan as I did on Friday’s sessions but with standard size contracts in all sessions.

Found a quote that has me thinking

Security is mostly a superstition. It does not exist in nature,
nor do the children of men as a whole experience it.
Avoiding danger is no safer in the long run than outright exposure.
Life is either a daring adventure, or nothing.
To keep our faces toward change and behave like free spirits
in the presence of fate is strength undefeatable.
-by Helen Keller

I was allowing the demons from my past come along and do jumping jacks inside my head and cloud my judgement.

Another thing I was thinking about over the weekend was why am I not driving the car of my choice, owning the house of my dreams, traveling to places around the world, doing things that my Partner and our family want to do.
the only thing I can see at the moment of writing here is that I am not allowing myself too out of fear or a poor self image.

So next week my commitment is to be positive with myself, follow my trading plan and execute my system to the letter and get quota for the week.

Well I’m getting tired at the moment so I’m signing off right now and going to give my girl a cuddle.

When a awake if I think of anything else I’ll post it tomorrow.

Cheers

Doingwhatittakes

18

Simple suggestion… Don’t trade with real money until you have found a winning edge. And that edge is compromised mainly of your ability to control, not your emotions, but your emotional decisions.

There’s nothing wrong with fear. You need fear. It’s a natural reaction in our lives that pushes us to action. Bravery is nothing but fear confronted, not eliminated.

And having a training methodology that can reap financial returns is pretty important too.

19

Hi mastergunner99,

I like your posts as you make me think and I always look at your posts with total respect, so please keep posting because I’m sure I will learn heaps but also others who read these posts.
To respond to your suggestions as honestly as possible so that I leave nothing hidden and put everything on the table so that you can see where I’m at with my trading and my intention with my trading.

“Simple suggestion… Don’t trade with real money until you have found a winning edge. And that edge is compromised mainly of your ability to control, not your emotions, but your emotional decisions.”

To reply here, I know I had a poor day on Thursday (result wise for what I’m committed to) as this was my first day trading standard contracts but I learned heaps about my mental approach which after coaching I addressed and put structures in place for Fridays sessions and bounced back and finished 75 pips in front for the day.
When I was trading Demo and live mini’s I didn’t learn these lessons as I was not feeling the pressure of trading for a living as I was not relating to the result as demo and mini’s meant nothing to me.
Result wise I ended up $386 in front which is OK for two day’s work and I’m here to make money and do what it takes to keep my focus on the system allowing the money side of things to take care of its self which I didn’t do on Thursday but did on Friday.

I do believe I am using a winning edge as I have produced really good results on demo and live on mini’s over several months (7-8 months), the issue was me dealing with the level I was trading as it was causing me to transfer my attention from my trading system to watching the money on the ticket, became reactionary instead of responding to the market

“There’s nothing wrong with fear. You need fear. It’s a natural reaction in our lives that pushes us to action. Bravery is nothing but fear confronted, not eliminated.”

Totally agree here, I see it as a warning sign that I’m seeing something on the market subconsciously that consciously I need to re-check my indicators and system.

“And having a training methodology that can reap financial returns is pretty important too.”

Again totally agree here. I must admit I’m a little concerned with how much I can share so I don’t break agreements and lack integrity, as time goes on I’m sure I will share a lot more in these area’s.

My intention here is to commit to a trading journal and learn everything that I can so that every day I become a better trader than what I was yesterday and I also believe that by the end of January I will be generating $2,000 a week and once reached then I will revaluate my goals and make new ones. This is why I have coaches for my trading, mental and health (lost 10 kilos in the last 7 weeks) area’s and I have my coaches financially link to my succeeding in my goals.

Anyhow have to go now as my visitors have just arrived for new year eve festivities.

Again thanks for your posts as you do stimulate the thinking process and look forward to your next post.

Cheers

Doingwhatittakes

20

P90X, I presume?